The chartered accounting firm I. Naiveli & Co. did not attend the Annual General Meeting (AGM) of the Social Democratic Liberal Party (SODELPA) on Saturday, which raised questions among party supporters about the financial report preparation. The absence of the auditors became a focal point of concern, particularly regarding certain accounting inconsistencies that remain unaddressed.
Party Leader Aseri Radrodro noted that I. Naiveli & Co. had requested explanations for a notable $23,000 discrepancy on the party’s balance sheet. Furthermore, the auditors pointed out a significant $177,000 debt owed to Vulivou Partnership and sought clarity on an additional $93,000 that the party owes to creditors. They expressed apprehension about SODELPA’s viability, given that expenditures have exceeded revenues.
Radrodro highlighted the importance of resolving these financial issues prior to the auditors finalizing and signing off on the accounts. Party President Ratu Filimoni Soqeta assured attendees that they would work collaboratively with the Working Board and Management Board to address these concerns before the next scheduled meeting, demonstrating a proactive stance towards financial clarity.
The AGM drew over 400 passionate party supporters, reflecting a strong sense of solidarity and commitment to engagement within the party despite the ongoing financial hurdles. This gathering illustrates SODELPA’s emphasis on transparency and accountability as it confronts these challenges head-on.
By committing to resolve financial discrepancies, SODELPA aims to enhance trust both internally and among supporters, which is essential as they prepare for future electoral contests. These proactive measures showcase a commitment to responsible financial management, crucial for the party’s credibility and sustainable success moving forward.
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